SGX Amends Listing Rules - bdo singapore

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Technical Bulletin No. Rule Existing Rule New Rule 9. 310 Listing application (in respect of debt securities) The following sets out the usual steps in the listing process for debt securities:- (1) The issuer submits the listing application which comprises the following:- (a) Prospectus, offering memorandum or introductory document prepared in compliance with Rules 312 to 313; and (b) Supporting documents set out in Rule 314. (2) The Exchange decides on the application and may grant approval inprinciple for the application (with or without conditions). (3) On satisfaction of any conditions expressed in the Exchange’s approval inprinciple, the debt securities are admitted to the Official List. SGX Amends Listing Rules An applicant may consult the Exchange toresolve specific issues prior to the submission of an application. Unless the Exchange prescribes otherwise, the following sets out the usual main steps in the listing process. (1) The applicant submits (to the Listings Function) one copy of the listing application. The listing application comprises the prospectus, offering memorandum or introductory document prepared in compliance with Rules 312 to 313 and, the supporting documents set out in Rule 314. The prospectus, offering memorandum or introductory document which forms part of the listing application must be in final form; (2) The Exchange considers whether the application satisfies the listing requirements and will decide whether to issue an eligibility-to-list letter for listing (with or without conditions). Listing will not be permitted until all conditions set out in the eligibility letter have been satisfied; (3) Where a prospectus, offering memorandum or introductory document is required to be issued, the applicant lodges the prospectus, offering memorandum or introductory document with the relevant authority (if applicable) and submits a copy to the Exchange. The lodged copy of the prospectus, offering memorandum or introductory document should not be materially different from the prospectus, offering memorandum or introductory document on which the eligibility-tolist letter was issued. The applicant must submit a written confirmation to the Exchange to this effect. If there are material differences, the Exchange may withdraw the eligibility-to-list letter; 10. 311 Listing application The Exchange will normally decide on an application that is complete within one week of submission. (4) The Exchange will inform the applicant of any further information that is required to be disclosed prior to commencement of trading. The applicant decides whether to include this information in its prospectus, offering memorandum or introductory document, or to make pre-quotation disclosure through an announcement to the Exchange. Pre-quotation disclosure must be made not later than the market day before commencement of trading of the debt securities; (5) On satisfaction of the conditions expressed in the eligibility-to-list letter, the issuer’s debt securities will be listed and quoted on the Exchange. The Exchange will decide whether to issue an eligibility-to-list letter as soon as practicable after receipt of a complete application. If the applicant makes material amendments to the prospectus, offering memorandum or introductory document, the time may start to run from the date the material amendment is notified to the Exchange.
Technical Bulletin No. Rule Existing Rule New Rule 11. 315(5) Issuer’s representatives (in respect of debt securities) 12. 704(7)(i) Announcement on the appointment of Director 13. 705(4) “Negative assurance” confirmation in the Announcement of interim financial results A foreign debt issuer must submit the documents upon received the approval inprincipal from the Exchange:- The names and addresses of its representative in Singapore with whom the Exchange may liaise in respect of future correspondence regarding the debt securities. No provision No provision SGX Amends Listing Rules A foreign debt issuer must submit the documents upon received the approval inprincipal from the Exchange:- The names and addresses of its representative with whom the Exchange may liaise in respect of future correspondence regarding the debt securities. The representatives must be easily contactable by the Exchange. The announcement of an appointment of any director, CEO, general manager or other executive officer of equivalent rank must contain the following details: (i) information on whether the person has prior experience (and what) or, if the director has no prior experience as a director of a listed company, whether the person has undertaken training in the roles and responsibilities of a director of a listed company. (applicable only to the appointment of directors). In the case of an announcement of interim financial statements (quarterly or halfyearly, as applicable), an issuer’s directors must provide a confirmation that, to the best of their knowledge, nothing has come to the attention of the board of directors which may render the interim financial results to be false or misleading. In order to make this confirmation, Directors would not be expected to commission an audit of these financial statements. The confirmation may be signed by 2 directors on behalf of the board of directors. 14. 707(1) Time frame for the holding of AGM 15. 707(2) Despatch of Annual Report No Provision (the timeframe for the holding of AGM set out in Paragraph 10 of Appendix 2.2) No Provision The time between the end of an issuer’s financial year and the date of its AGM (if any) must not exceed 4 months. This applies to both Singapore and foreign incorporated issuers. An issuer must issue its annual report to shareholders and the Exchange at least 14 days before the date of its annual general meeting. 16. 710 Disclosure in Annual Report An issuer must:- (1) describe its corporate governance practices with specific reference to the principles of the Code in its annual report. It must disclose any deviation from any guideline of the Code together with an appropriate explanation for such deviation in the annual report. (2) state in its annual report whether and how it has complied with the section on dealings in securities in the Best Practices Guide. An issuer must describe its corporate governance practices with specific reference to the principles of the Code in its annual report. It must disclose any deviation from any guideline of the Code together with an appropriate explanation for such deviation in the annual report
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SGX Amends Listing Rules - bdo singapore

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